Amazon Shares Hit Record High as AI Momentum Flips Positive

Amazon.com Inc shares surged to a new intraday record of $256.18 on April 17, surpassing the prior $254 close, fueled by OpenAI partnerships including a $50B commitment and AWS AI revenue run rate topping $15B in Q1. The rally caps a 20.5% April gain from February lows, building on disclosures of a $20B AI chip run rate (potentially $50B externally) with triple-digit growth, 24% AWS expansion delivering half of profits, and $200B capex plans backed by customer deals. Satellite ambitions via Project Kuiper and billionaire holdings like Ackman and Tepper further bolster the bullish shift despite spending pressures.